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    2015 St. Petersburg International Economic Forum (SPIEF). Day Three

    Russia Plans to Raise at Least $3Bln From 2017 Eurobond Issuance

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    The Russian Finance Ministry plans to issue Eurobonds in 2017, Russian Deputy Finance Minister Sergei Storchak said Friday.

    MOSCOW (Sputnik) — The Russian Finance Ministry plans to issue Eurobonds worth at least $3 billion in 2017, Russian Deputy Finance Minister Sergei Storchak said Friday.

    "Clearly, we would not issue less than $3 billion, at least those are our plans," Storchak said in an interview with the CNBC channel.

    The deputy minister did not name the exact figure, stressing that this will depend on the state of the Russian economy and the federal budget at the time.

    In May, Russia announced a return to the international bond market, launching its first Eurobond offering in over two years and reaching its $3 billion issuance limit for 2016 during a second issue on September 21.

    Total bids for Russian bonds topped $7 billion in May and $7.5 billion in September, while the Russian Finance Ministry limited total bids to a maximum of $3 billion.

    Russia last borrowed from foreign creditors in September 2013, when $6 billion worth of bonds were issued. Access to the international bond market was complicated by the Ukrainian crisis in 2014 and the introduction of anti-Russia sanctions by the United States and the European Union and some other countries.

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    Eurobonds, Russian Finance Ministry, Sergei Storchak, Russia
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